Quick Tips

Digits & Decimals Inc. knows that as a small or medium sized business you don't always have time to inform yourself about Canadian laws regarding taxes. We are pleased to share useful info with you.

Do not hesitate to contact us and ask how we can help you improve your accounting system at an affordable price.

Did you know...

Taxi receipts include the GST amount.
Parking receipts include both the GST (5%) and PST (7%).
Insurance never has taxes.

Incorporating your business is not necessarily the best way to save money. Incorporation is very expensive, so be sure to check all the advantages and disadvantages before embarking on this process. Talk to an accountant first!

If you own a business, you do not need to file your income tax by the end of April. In fact your taxes are not due until June. However, if you owe the government money, this is due by April 30th unless you want to pay penalties and interest. If you are incorporated, your income tax is due 3 months after year end, but the return filing deadline is 6 months after year end.